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Metinvest to pump $8bn into Azovstal, Ilyich works by 2020

February 08, 2012 - 16:41 GMT Location: London

KEYWORDS: CIS , Ukraine , Metinvest , Azovstal , Ilyich , flats , longs , investment

Ukrainian steelmaking group Metinvest plans to invest a total of $8 billion into its Azovstal and Ilyich plants to 2020, which will allow the plant to increase crude steel production capacity by 35%, the company said on February 7.

The investments will allow joint crude steel production capacity at the plants to rise to 16 million tpy, from their current estimated 11.9 million tonnes, it said. They will also cut specific emission volumes by five times to 7kg per tonne of crude steel produced, Metinvest...

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